CBSL issues revised list of companies engaged in prohibited pyramid schemes

The Central Bank of Sri Lanka (CBSL) has issued an amended list of companies and institutions that are reportedly engaged in prohibited pyramid schemes. The CBSL noted that in terms of Section 83 (C) of the Banking Act, No. 30 of 1988, as amended, the Central Bank of Sri Lanka c…

The Central Bank of Sri Lanka (CBSL) has issued an amended list of companies and institutions that are reportedly engaged in prohibited pyramid schemes. The CBSL noted that in terms of Section 83 (C) of the Banking Act, No. 30 of 1988, as amended, the Central Bank of Sri Lanka conducted an investigation and ascertained that “Infinity Rover (Pvt) Ltd” has engaged, conducted and promoted a prohibited scheme.Accordingly, the CBSL has amended its listed of companies that are engaged in prohibited pyramid schemes.The Central Bank noted that following Companies/Apps have been ascertained and determined as prohibited schemes under Section 83 (C) of the Banking Act, No. 30 of 1988, as amended. 1. Tiens Lanka Health Care (Pvt) Ltd2. Best Life International (Pvt) Ltd3. Mark – Wo International (Pvt) Ltd4. V M L International (Pvt) Ltd5. Global Lifestyle Lanka (Pvt) Ltd6. Fast3Cycle International (Pvt) Ltd7. Sport Chain app, Sport Chain zs society Sri Lanka8. OnmaxDT9. MTFE App, MTFE SL Group, MTFE Success Lanka, MTFE DSCC Group10. Fastwin (Pvt) Ltd11. Fruugo Oline App/ Fruugo Oline (Pvt) Ltd12. Ride to Three Freedom (Pvt) Ltd13. Qnet/ Questnet14. Era Miracle (Pvt) Ltd. And Genesis Business School15. Ledger Block16. Isimaga International (Pvt) Ltd17. Beecoin App and Sunbird Foundation18. Windex Trading19. The Enrich Life (Pvt) Ltd20. Smart Win Entrepreneur (Pvt) Ltd21. Net Fore International (Pvt) Ltd./ Netrrix22. Pro Care (Pvt) Ltd., Shade of Procare (Pvt) Ltd23. SGO/sgomine.com24. I.C.A.N. Advertising (Pvt) Ltd and its affiliates icanonlineadvertising.com/bannercuts.com/bannercuts.lk/bannercusts.net/bannercuts.org25. Infinity Rover (Pvt) Ltd